Feature of management
1)Management is Goal-Oriented:-
Management is a goal oriented activity. It works to achieve some predetermined objectives or goals by using financial, human, and physical resources efficiently and effectively. These goals differ from organization to organization. For example, a business organization might have a goal to gain profit whereas a social work organization might have a goal of eradicating illiteracy among children. Management recognizes these goals and aims to fulfill them.
2)Management integrates Resources:-
Resource is a source from which the benefit is produced. There are three types of resources
i) Financial resources;-
Financial resources refers to money, cash, liquid securities and credit etc
ii) Human resources;-
Human resources mean man power. Human resources refer to the human efforts in the production of goods and rendered of services.
iii) Physical resources;-
Anything that is required for the completion of any work other than financial and financial resources is called physical resources. Physical resources include only tangible things. Tangible things are those things which we can touch feel and seen.
For example;-
Land, furniture, machinery, tool, stationary etc
Management integrates these resources. It brings harmony among the human, physical and financial resources.
3)Management is a group activity:-
Management is a group activity because It involves the use of group effort to achieve
predetermined goal and not individual efforts.
4) Management is a Continuous Process:-
Management is a continuous Process. It includes four main functions, viz., Planning, Organizing, Directing and Controlling. The manager has to Plan and organize all the activities. He had to give proper Directions to his subordinates. He also has to Control all the activities. The manager has to perform these functions continuously. Therefore, management is a continuous and never ending process.
5) Management is a flexible process;-
Management is a flexible process because it is dynamic and not static.it can be modified as per the requirements of the situation.Modification & improvement is a continuous phenomenon in case of management.
6) Management is Universal process:-
Management is a universal process because it follows throughout the world and the use of management is not restricted to business firms only it is applicable in profit-making, non-profit-making, business or non-business organizations; even a hospital, school, club and house need management. Concept of management is similar in the whole world whether it is USA, UK, India or Pakistan.
For example, a cricket team needs to be managed as much as a club or a hospital. The activities of managers in pakistan are similar to their activities in UK or USA or india. Thus, it can be said that management is all pervasive and a universal phenomenon.
